technical patterns are probability edges not certainties

"at the most fundamental level
the market is simply a series of
up and down tics that form patterns.

using technical analysis
you can begin to define these patterns as edges.

any pattern defined as an edge
is simply an indication that there is a high probability
that the market will move in one direction or another.

the repeating patterns imply consistency
but the reality is that each pattern is unique.

the underlying force behind each pattern is traders,
and traders that contribute to the current pattern
are different from the traders that formed any previous pattern."

- trading in the zone
mark douglas